Antimetal Raises $4.3M in Seed Funding


Antimetal, a New York-based provider of a cloud cost optimization platform, raised $4.3M in Seed funding.

The round was led by Framework Ventures. Additional participants included Chapter One and IDEO CoLab Ventures, Polygon Ventures, Alchemy Ventures, Builder Capital, Louis Guthmann, Kelvin Fichter, Jai Bhavnani, and Sunil Srivatsa. 

The company intends to use the funds to expand its engineering team and continue development of the platform. 

Co-founded by Matthew Parkhurst and Shreyas Iyer, Antimetal makes cloud savings automated, with no code or engineering required. The platform:

  • Attaches to customer’s AWS account to analyze current and historical spend
  • Using spend and usage data, creates a custom AI-based risk model that takes into account volatility of usage, usage trends, and existing savings infrastructure. The system constantly monitors user accounts (leveraging this risk model) to make new recommendations
  • Features an autopilot to automatically approve new recommendations as they come in. Users have the flexibility to set custom parameters on it to only work within specific regions or accounts.  

The company already serves companies like CarVal, Clay, Gnosis Freight, and many others.